The International Monetary Fund (IMF) has approved $164.6 million in funding for Rwanda to enhance its economic resilience against future climate shocks. This funding includes $76.2 million from the Resilience and Sustainability Facility (RSF) and $88.4 million from the Standby Credit Facility.
The IMF emphasized the importance of prioritizing macroeconomic stability, fiscal sustainability, and buffer restoration in Rwanda’s policy mix. The country’s real GDP growth surpassed expectations in 2023, driven by the services sector, construction, and improved food crop production despite severe floods.
To mitigate the impact of last year’s devastating floods, the IMF recommended that Rwanda’s government implement a well-planned fiscal strategy to ensure sustained economic stability and growth.
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